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Evolution of capital structure in East Asia : corporate inertia or endeavours?

Driffield, Nigel L. (contributor); … - 2008

The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...

Persistent link: https://www.econbiz.de/10003693700

Excess leverage and productivity growth in emerging economies : is there a threshold effect?

Coricelli, Fabrizio; Driffield, Nigel L.; Pal, Sarmistha; … - 2010

The paper examines the relationship between leverage and growth in a group of emerging central and eastern European … moderate leverage could boost growth while very high leverage could lower it by increasing the likelihood of financial distress … beyond which further increases in leverage could lower TFP growth. -- Excess leverage ; bank efficiency ; market …

Persistent link: https://www.econbiz.de/10003944314

The interdependence of R&D activity and debt financing of young firms

Fryges, Helmut; Kohn, Karsten; Ullrich, Katrin - 2011

We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...

Persistent link: https://www.econbiz.de/10009523478

Women at the top in developing countries : evidence from firm-level data

Sekkat, Khalid; Szafarz, Ariane; Tojerow, Ilan - 2015

This paper uses worldwide firm-level data to scrutinize the governance factors that favor gender diversity in leadership positions. Our results reveal that the gender of the dominant shareholder is key. The chief executive of firms with a female dominant shareholder has a significantly higher...

Persistent link: https://www.econbiz.de/10011396743

Ownership and pay in Britain

Pendleton, Andrew; Bryson, Alex; Gospel, Howard F. - 2015

Drawing on principal-agent perspectives on corporate governance, this paper examines whether employees' hourly pay is linked to ownership dispersion. Using linked workplace-worker data from the British Workplace Employment Relations Survey (WERS) 2011, we find average hourly pay is higher in...

Persistent link: https://www.econbiz.de/10011307884

Corruption, networking and foreign ownership : recent evidence from CEE countries

Pal, Sarmistha - 2013

The present paper argues that the effect of corruption on foreign ownership is not necessarily linear and depends on the level of host corruption. So long as the expected returns from foreign investments exceed its expected costs, higher host corruption will be associated with higher foreign...

Persistent link: https://www.econbiz.de/10010195528

How do labor representatives affect incentive orientation of executive compensation?

Dyballa, Katharina; Kraft, Kornelius - 2016

Contrary to previous literature we hypothesize that labor's interest may well – like that of shareholders – aim at securing the long-run survival of the firm. Consequently, employee representatives on the supervisory board could well have an interest in increasing incentive-based...

Persistent link: https://www.econbiz.de/10011526742

Family ownership, workplace closure and the recession

Bryson, Alex; Dale-Olsen, Harald; Gulbrandsen, Trygve - 2016

Using nationally representative Norwegian data we show family-owned workplaces are less likely to close than observationally similar non-family-owned workplaces. But this changed during the Crisis when the family businesses' closure hazard soared. This hike in 2009 was not related to performance...

Persistent link: https://www.econbiz.de/10011457366

Labor demand during the crisis : what happened in Germany?

Bohachova, Olga; Boockmann, Bernhard; Buch, Claudia M. - 2011

In Germany, the employment response to the post-2007 crisis has been muted compared to other industrialized countries. Despite a large drop in output, employment has hardly changed. In this paper, we analyze the determinants of German firms' labor demand during the crisis using a firm-level...

Persistent link: https://www.econbiz.de/10009516879

Funding self-employment : the role of consumer credit

Kneiding, Christoph; Kritikos, Alexander - 2011

This paper investigates whether self-employed households use consumer loans - in particular instalment loans and overdrafts - to finance business activities. Controlling for financial and non-financial household variables we show that self-employed households particularly use personal overdrafts...

Persistent link: https://www.econbiz.de/10009517869